Markets tanked on Monday, with the Dow Jones plummeting more than 1,000 points and the S&P 500 dropping the most since February 2018 as the coronavirus continues to spread. The pathogen presented itself as a global threat weeks ago, so why did the bottom fall out today? For millions of Chinese businesses, the impact may soon mean collapse unless someone comes to the rescue.
Here are today’s top stories
Democratic presidential front-runner Senator Bernie Sanders, who picked up 24 delegates in Nevada, and rival Michael Bloomberg are trading criticism ahead of Tuesday’s debate in South Carolina.
The key to New York’s dreams of sustainable energy sources may rely on a mega-battery to the north.
Audi halted production of its E-Tron SUV as traditional automakers struggle to boost electric cars and challenge Tesla.
The U.S. Securities and Exchange Commission is investigating a non-profit that defaulted on $170 million of municipal bonds issued to finance the acquisition of low-income apartments in Chicago and its suburbs.
The fight over a gas pipeline is paralyzing portions of Canada’s economy, Bloomberg Businessweek reports, part of the latest showdown between indigenous groups and the government.
Convicted Ponzi scheme mastermind Bernie Madoff wants leniency. Ian Fisher raises questions about his bid for release in Bloomberg Opinion, citing the imprisonment of his own father when he had just weeks to live.
What’s Joe Weisenthal thinking about? The Bloomberg news director said he’s beginning to warm to gold (despite all the conspiracy theorists) thanks in part to New York City jeweler Maksud Agadjani, who appeared in the movie “Uncut Gems.” He also appeared on the latest episode of the Odd Lots podcast.
What you’ll need to know tomorrow
Harvey Weinstein was convicted of rape. This is his future home. Why the era of big oil sands mining may be over. Supersized solar farms are taking over the world. Seattle tech workers make 56% more than NYC finance employees. Netflix says it will begin ranking the popularity of its shows. This top tech couple wants to sell a $13 million mountaintop home. Inside the seething boardroom drama that poisoned HQ Trivia.
What you’ll want to see in Bloomberg Graphics
Mapping the global spread of the coronavirus: The outbreak that started in Wuhan has put health authorities on high alert around the world. Renamed SARS-CoV-2, the coronavirus is thought to have originated in the food market of the central China metropolis. Outside mainland China, 34 deaths have been linked to it in Hong Kong, Japan, France, Italy, Taiwan, South Korea, Iran and the Philippines. Total deaths worldwide now exceed 2,600.
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